AUDUSD TECHS: Has Traded Through The 50-Day EMA

• RES 4: 163.75 Top of a bull channel drawn from Feb 12 low 
• RES 3: 163.62 2.000 proj of the Jan 27 - Feb 9 - Feb 12 price swing
• RES 2: 163.00 Round number resistance
• RES 1: 162.84 High Jul 1 and the bull trigger
• PRICE: 162.08 @ 20:20 BST Jul 6
• SUP 1: 160.49 Low Jul 03
• SUP 2: 160.15 50-day EMA
• SUP 3: 159.58 Low Jun 11
• SUP 4: 158.74 Low May 25  

The trend needle in USDJPY continues to point north and last week’s sharp pullback appears to have been a correction. Sights are on key short-term resistance and the bull trigger at 162.84, the Jun 1 high. A break of this hurdle would confirm a resumption of the uptrend and open 163.79, the top of a bull channel drawn from the Feb 12 low. Key support to watch is 160.15, the 50-day EMA.

• US equity indexes are trading firmer late Monday, the DJIA off this morning's new record high of  53052.70, while SPX eminis and Nasdaq indexes, while making decent gains - remain off early June record highs.
• Tech stocks led declines late last week after South Korea's tech heavy Kospi index fell sharply on profit taking/position unwinds amid concerns over overstretched valuations and growing competition.
• Risk sentiment improved for IT sector shares early Monday, however, after President Trump extolled Dell computers after Michael and Susan Dell pledged more than $6 billion to the Trump Accounts initiative launched July 4. Shares of Dell jumped nearly 8% early Monday - are appr 3.8% higher in late trade.
• Other tech gainers included: Arista Networks Inc (+7.12%), Advanced Micro Devices Inc (+6.83%), Western Digital Corp (6.25%), QUALCOMM (+5.63%) and Monolithic Power Systems (5.25%).

Late 10s30s flattener blocked at 1504:28ET:

• -5,323 TYU6 109-20, post time bid, DV01 $346,000, vs.
• +2,817 USU6 112-12, post time offer, DV01 $370,000